PenCom Calls For Transparency In House Of Reps Committee’s Probe

The National Pension Commission (PenCom) has advocated for transparency in the ongoing investigation of its operations by the House of Representatives Pension Ad-hoc Committee. To this end, the commission has declared loss of confidence in the leadership and proceedings of the committee chaired by Ehionzuwa Johnson Agbonayinma, to investigate its activities. Sources within the industry said the chairman should have recused himself from the Ad-hoc Committee after it was discovered that his daughter secured employment in PenCom with fake certificates, which ultimately led to her sack, and alleged threats against the commission. The development is coming on the heels of the House of Representative Ad-hoc Committee’s investigation into the activities of PenCom from April 2017 to date under the chairmanship of Hon Agbonayinma. Prior to the commencement of the investigation, the Commission had embarked on a routine certificate verification exercise and it was discovered that the Chairman’s daughter secured employment in PenCom with fake certificates, which ultimately led to her sack. Sources within the pension industry who spoke on condition of anonymity stated that there are indications that the Ad-hoc Committee’s leadership is no longer fair in its proceedings and instead is allegedly engaged in “witch hunt” that would inevitably produce an unjust outcome. One of the source said: “This development has heightened concerns that the Chairman has personalised the investigation which led to the Commission’s loss of confidence in the leadership of the Ad-hoc Committee. “PenCom and some operators had expected that the Chairman would recuse himself from the Ad-hoc Committee with this glaring case of conflict of interest but he has continued to pursue an agenda of harassment of officers of the Commission that appeared before the Committee. “The Commission believes that he lacks the requisite impartiality to preside over the Committee’s proceedings and it is doubtful that the Commission would get justice in this investigation. This concern has been communicated to the leadership of the House.”